Every year, new workers’ compensation insurance rates are proposed to the Connecticut Insurance Department by the National Council on Compensation Insurance (NCCI). After a review of NCCI’s proposals, the Insurance Department yesterday approved rate increases to take effect Jan. 1, 2012.

The department approved an overall rate increase of 4.5% for policies purchased in the normal, or voluntary, market but reduced the proposed 2.9% increase in the assigned risk market by approximately 0.5%. However, the Insurance Department will allow NCCI to provide further evidence to support its initial filing.

Industry

Voluntary Market

Assigned Risk Market

Manufacturing

+6.0%

+4.3%

Contracting

+5.3%

+3.7%

Office & Clerical

+3.0%

+1.5%

Goods & Services

+3.4%

+1.8%

Miscellaneous

+6.2%

+4.5%

Overall

+4.5%

+2.4%

For more information, contact CBIA’s Kia Murrell at 860.244.1931 or kia.murrell@cbia.com.